Opportunities in Recession-Proof Industries
photo credit: a.drian
The economic slump has proved fatal for many businesses, but that doesn’t mean there aren’t still opportunities out there.It just means entrepreneurs have to be much more careful before jumping into a new venture.
To be sure, certain businesses hold up better than others during tough economic times, so if you’re looking to start a new business, you may want to consider those countercyclical industries that can weather the storm, experts say.
What are some recession proof industries? The article lists six:
- Health care
- Accounting and bookkeeping
- Emergency restoration / repair services
- Insurance
- Green businesses
- Compliance / safety products
Can you name some more?
Donald on May 13th, 2009 4:17 am
I was reading a study that said coffee franchises are recession-resistent…
http://www.franchisedirect.com/coffeefranchises/coffeefranchiseindustryresearchbusinessreporti/74/220
Dane Carlson on May 13th, 2009 10:17 am
Coffee itself may be recession-resistant, but coffee has been a commodity in the past, and history is any guide, will probably return to being something that people expect for a dime. Read the book Uncommon Grounds The History Of Coffee And How It Transformed Our World .
Susan on May 13th, 2009 10:48 am
I disagree with Dane. Coffee is a small luxury for us when we can’t afford larger luxuries. When I was a college student, many, many years (decades) ago, friends and I discovered, wishing for a chance to go out, that we could afford a nice coffee drink, maybe even a slice of cake, so long as we didn’t go for an entire meal. It was such a pleasure.
Sometimes I think there should be a shop called “little luxuries” or “tiny treasures” (maybe there is) that specializes in tiny treats like espresso drinks, fancy soaps, little cakes, tea towels; well you get the idea. Luxury on a budget!
Dane Carlson on May 13th, 2009 2:27 pm
Even the funeral industry isn’t recession proof! Here’s a cemetery in foreclosure.
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